Outstanding interview. This is far more honest than what you get from typical mainstream analysts who constantly try to pump up the bubble and smear anyone who disagrees
One of the best Macro economy interviews and perspectives out there at the moment. Jeremy Grantham will as usual be vilified as to his opinion of the ''Super Bubble'' we are now living in. His views were very sobering and useful as to knowing where we are heading. A memorable Interview that will become a reference as we head forward. Thank you Mr Schatzker for steering this interview you did a great job.
I agree. I felt the interview could have or should have been less canned. I was hoping that he would ask him questions like if we have the massive meltdown of meltdowns, the banking system could collapse since it is carrying up to 5x more debt than in 2008. How will the bail ins (on the books) affect savers and will brokerages survive and will traders even have access to markets through their accounts? Will they be prevented from trading? What do you think the value of the dollar would be after such a massive collapse? According to the Fed Res the dollar has already lost 99% of its 1913 value and the world has accumulated a staggering level of debt. Will a new system be ushered in after this upcoming financial catastrophe? No one is really talking about this and assumes that it will be business as usual when what is coming will be epic worse than 1929 and the great depression.
Wow! This was a fascinating interview! There’s so much to unpack from this interview but I’ll say this! Simply put, Jeremy’s common sense approach combined with his historical perspective makes his talking points the best in the game of economics and global wealth. Eric does a fantastic job hosting the programs for Bloomberg and his ability as a journalist is second to none! Bravo 👏
The power of RUclips giving us all educational videos that is priceless. So many great years of life experiences and wisdom to share with us all. Tremendous investing knowledge and experience in 37 mins for free. Super good interview.
Thanks Erik and Bloomberg for making this happen. its like a TED talk of finance, given the knowledge / experience of the interviewee, and ti reinforce some of the directions we might have lost.
this is a fabricated comment. Probably Jeremy Grantham spent money on these bots. Just read all the comments all of them are just generic and not specific
Unfortunately people as awesome as Jeremy know better than to go anywhere near politics. Imagine how frustrating it would be for a clever guy like him to deal with the chumps currently in ‘control’.
When speaking of fertility rates he says we were "over-engineered" what does he mean by that? Also if we are in a super bubble and recommends everyone selling (effectively popping the bubble) why hasn't HE done that?! I know he gave a bs answer "it's not commercially viable". I say being invested and losing all your clients money is not commercially viable. So how much does he really believe in this bubble theory? He has been shorting the market so it behooves him to talk of a super bubble & even be the prick that pops it. Maybe all this talk of climate is virtue signaling so people believe his bubble narrative. Maybe he is a prick maybe not. But I say don't look at what people say, look at what they do to be closer to the truth. Doom sayers are always selling something. There's ALWAYS something in it for them. It's not nobility. It's self interest.
@@mann8098 What he meant was that even though our sperm count has decidedly decreased because humans were naturally engineered to have such an abundance of them we are still able to reproduce.
this is a fabricated comment. Probably Jeremy Grantham spent money on these bots. Just read all the comments all of them are just generic and not specific
Yeah he is really good. I would call this guy idiot couldn't hold myself. All indices went up like crazy and dude says I was right look at Dow it stayed the same.
Eric is not credible. Pretends the Federal Dollar Notes purchasing power is constant. Inflation comprehension is beyond Eric:s ability. His "making money" is useless.
I love listening to Jeremy Grantham and I like watching Eric interview people. When the two are in the same room, you know that it will be nothing short of excellent.
Jeremy Grantham, not only a legendary investor but a gentleman with a social and environmental conscience. This video is a must watch for all interested in money, social equality and protecting our most significant treasure, the environment.
@@renand3z Grantham was talking about 2 and 3 sigma deviations "In the empirical sciences, the so-called three-sigma rule of thumb expresses a conventional heuristic that nearly all values are taken to lie within three standard deviations of the mean, and thus it is empirically useful to treat 99.7% probability as near certainty."
Thank you Jeremy Grantham for your advice and empathy for the working class. I am a carpenter and my wife works support staff jobs at a hospital our retirement accounts look abysmal and are seriously underfunded we will never be able to retire comfortably in a economic world spinning out of control.
I’ve listened to this interview three times and I’m not done. Phenomenal Q & A. Scathing indictment on the ignorance of Greenspan, Bernanke, Yellen, and Powell policies.
I would hate to be in Yellen's shoes. Get handed this money printer that's had its "off" switch straight up broken off for years, knowing with certainty that inflation will be the result, then seeing companies realize they can price gouge and maintain absurd unsustainable growth rates even during a pandemic and just blame inflation and they will get cover by politicians trying to use it in a disingenuous bid for power. They're not even saying they could stop inflation, just ranting about it being bad and blaming it on politicians from a different party, pretending that they've suddenly forgotten the Federal Reserve even exists or that inflation is a lagging indicator and the President has no control over it, etc. Load up on buybacks, and raise your prices and call it inflation! Even if your company is posting record profits, no one will doubt it was all because of inflation!
this is a fabricated comment. Probably Jeremy Grantham spent money on these bots. Just read all the comments all of them are just generic and not specific
I've said for years that basing inflation numbers on durable goods was idiotic. My kids can't eat a toaster, go see how much milk has gone up. Luckily corporate America bases their increases on the CPI number, so the CEOs are doing okay.. Comes down to the question, where else should I put money besides the financial market
You are right! I diversified my $450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $1.2m in net profit across high dividend yield stocks, ETF and bonds during this red season.
of course the savers, retired and poor are the one's that were not served by this bloated super bubble! Govt made is almost impossible to save money in the bank and make a respectable rate of interest. Now everyone has to gamble to get any return.
With all this scary news making the headlines, is this really a good time to buy stocks? I know everyone says the mrkt is ripe enough for buying but will stocks tank further this year? How long until a full stock recovery? How are other people in this mrkt raking in over $250k gains within months, I'm really just confused at this point.
It all depends on how long you're willing to hold for, stocks might likely tank further, but making serious gains in this downtrend wouldn't be a problem if you're a pro
@@claraclouse9086 I got into a bit of dilemma myself due to this chaotic mrkt, wasn't sure if to sell or just wait a little longer, 75% of my portfolo was tanking and in the red, but I began gaiinng clarity and have more confidence in my invt. through an lnvt-advlser, I know most DlY-lnvestor like me would say advlsors aren't essential, but come to think of it, they're better trained and equipped at this and if I have to give just a little amountin fees for me to be able to net $650K in less than 8months like I did this year, I truely don't mind.
Erik Schatzker is an outstanding interviewer! Thank you Bloomberg for this insightful discussion with one of the greatest minds in the industry who was, as always, eloquent and succinct.
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless" -Thomas Jefferson
Oh make no mistake about it, the world is driven by consumers thru votes and politicians only answer to (or they pretend to answer to ) consumers. Even if the U.S sec behaves like hitler, the world is better than and bigger than one entity. Cryptos and blockchain will prevail. Every new innovation has its challenges and especially when the status quo being disrupted cannot compete or offer the same solution as the innovation offers. It is unstoppable. Are they going to arrest everyone? You better get bullish on cryptos and pay your taxes, so they dont scape goat you.
Hear hear!! The Fed knows exactly what will happen and when, it's all planned out to enrich the elite and impoverish "the dumb money" Love that quote, thx for posting it! @John Daniels
That is the reason investing Bank is a good idea. Rumor is that Fed is own by large bank. During 2007 crash, you can identify owner of Fed. Goldman and JP morgan elevated to commercial bank. JP Morgan took Washington Mutal for nothing. BoA took over ML and Counrty wide. Wells fargo got Wachovia bank. Those banks are founding member of Fed.
There are very few experts who use special strategies to make steady earnings for investors and Mr Corey is not missing out. Nothing beats the feeling of comfort knowing that your money is working to raise itself daily. Mr Corey is the best no doubt;
@@user-zf5fg2jl3v12 It is good if you have a fixed retirement date that is within 15 years. If your timeframe is 20+ then you normally want an 80/20. And if your timeframe is 30+ it is usually not unreasonable to push it to 90/10 or even 100/0.
Mr Grantham is as real and pure as gold. I have been listening to brilliant investor interviews for over 25 years and I respectfully grant Mr Grantham in the ""TOP-SPOT!"
i dont think anyone else could ever explain this much stuff in such a short time and in a very understandable way. Thank you for the great interview, excellent job directing the interview.
This was a brilliant interview with Jeremy Grantham. One of the best thought out explanations of the coming market changes I have seen. I have the greatest respect for Mr. Grantham not only as a financial analyst but as a caring and concerned human being. I was enthralled. Bravo Bloomberg for making this available.
Yes, but they hate when we do that. They want us compartmentalized and dog-trained to spew Keynesian pablum upon demand. False idealisms must die, but I think we're out of time.
@Teratology The Austrian school tells us that "you cannot create an equilibrium model from human action". Modern economics is a brain-washed cult. It parades as a science, but is really only a festooned control grid. Our entire economic system can be explained in one word....heist.
Possibly, probably, almost certainly the best interview on macro finance - consumer finance - understanding ourselves, that I have ever be fortunate enough to hear. Common sense visionary linking so many points on the diagram. Wow.
This interview kind of shocked the hell out of me. Excellent interview by the way. Gave it the exceptional Label: "review until you understand" (as well as possible) what was discussed.
Such an inspiring interview and Jeremy Grantham is such a gentleman and visionary. I think the fundamental issue with the world’s problems is mis-calculation of production and consumption costs. When we price a product, we don’t consider the environmental impact of making it and disposal afterwards. So products are produced too cheap and we over-consume. Remember in economics 101, I learned there are private property and public property. Businesses take into account only costs under their private property but not under public property. Governments are not allocating these public costs in a proper way. Going on so many years now, everything is out of balance.
This is such a great interview. Really enjoyed listening to Mr. Grantham's view not only on the U.S. economy, but also on the economic system of the whole planet earth, as he points out the bigger problems that arise from building the human capitalism system. It is not just about whether the crash will happen and when which most people may just care about.
this is a fabricated comment. Probably Jeremy Grantham spent money on these bots. Just read all the comments all of them are just generic and not specific
Wtf is the “human capitalism system”. Capitalism is freedom applied to the marketplace. It means you are free to create, buy, sell, enter into transactions with others. It’s a fantastic system that’s made the world more wealthy. Since it’s founded in freedom it’s no surprise that every alternative is founded on authoritarianism.
Erik was really cool of you to give Jeremy a parting word. I have enjoyed his honesty over the years as well. Tell him his intentions to educate were honorable.
@warrenrose68 Bubbles can go on for a very long time. Look at what happened in Japan. It got to something like 67 times earnings! The aftermath was devastating for them and the repercussions have lasted for decades. Japan might be an interesting place to invest now though their demographics are terrible which may be explained by the poor economic outlook for so long.
@warrenrose68 My point was not that you would have been better off taking his position back then only that it is incredibly difficult to predict the demise of a bubble. Investors were correct in that as long as the Fed was ultra accommodative it was hard to lose and you could almost invest blindly. Who would have known though in 2011 that the Fed would resort to such extreme measures that I am sure will go down in history. The Fed over the last 20 years have never let the markets clear. We just kept upping the ante. But that game is over. The Fed's hands are tied now. They face very difficult choices. None of which are very palatable. We live in very interesting times in so many ways.
Best time to invest? thats funny though because in the last four months I have lost more than $47,900 in stock market which is the biggest I have loss since I ventured into stock investment.
you could be right or wrong depends on your expertise, I once made such loss when i invested thinking i have gathered enough trading skills from youtube videos
now its a different ball game for me because I was lucky to have met TERESA JENSEN WHITE, a financial manager and stock expert, I have made more than $165,000 in 6 weeks under her supervisions.
Really? people are cashing in from the stock market and frankly speaking its comforting seeing someone admit to the fact that they actually seek help from professionals. please how can i reach TERESA ?
He was fantastic and very generous. However, we humans, as as species, have a problem with co-operating and listening when we need to. If only it were as simple! as you say!
@@spenser6353 he's being polite to not upset any crpyto believers but also careful not to make wrong calls. But, he probably understands more about the cryptomarket more than the average s***coin shills and pumpers.
Can you be more specific? He sounds bullish on foreign stocks by suggesting shorting US stocks (for non profitable or over valued corporations) in exchange. While he is successful creating fear he is selfish enough to not spend sufficient time explaining risk mitigation measures. It’s like he is attempting to position himself to sell you a solution instead of common good.
@@JCCeba this is a fabricated comment. Probably Jeremy Grantham spent money on these bots. Just read all the comments all of them are just generic and not specific
@@giovannip8600 Jack: There is no such thing as electromagnetic radiation Me: You are one ignorat dude Giovanni P: In a crazy world the not crazy ones seem crazy Me: Smh
Such good insight from an unexpected source. A financial icon who gets that the world is finite and there are ramifications for life everywhere. Good to see someone has vision.
Jeremy doesn't understand inflation. His excuses for the Federal Reserve devalued Purchasing value >6.6% in 2021, already >8.5% baked in the cake for 2022. The 0.25% wealthy, not rich, Wealthy profit as he says, will accelerate inflation under Powell.
So basically 1970’s we went off the gold standard, which allowed gov/fed res to artificially lend out money, which artificially pumped asset prices at the expense of debasing everyone’s cash - Rich got richer and poor lagged as a result, naturally as a consequence But worse of all, this incentives politicians to promise they can tax and redistribute our way out of an asset bubble - which will perversely cripple real growth and make recovery even more unbearably long and more excruciating without fixing anything fundamental
If borrowing money is cheap it really just means your money has no value. Basically money should be worth 4 to 6% if you want to borrow some. The rich understand this and are dumping money to get assets. Very hard for the new investor to get in the game. How do we keep capitalism (the best possible answer) yet Un rig the game giving more people access and minimizing the wealth gap
Holy shit how accurate was Jeremy! 3 months later, many of the SPACs and growth stocks are down 80-95%. Brutal drawdowns! Hats off to Jeremy. What a legend👊🏽
Totally struck by the remarkable breadth of Jeremy's knowledge on such a broad range of topics. Whether we agree with him or not, his arguments are very compelling.
That man is very interesting. Good interview. Good interviewer. I think he is totally right. Most of it comes back to living beyond our means. We are crazy
Have to give Grantham kudos for his call here. He was on target for his call to buy commodities in January. I'm just hearing this interview now in the middle of April. Great interview.
HOLY CRAP. Me & Jeremy Grantham are 100% on the same page. This man cuts right through the BS. Thank god. AMAZING. *24:45 is where the real meat is!! If you drive up asset price systematically, who do you make money for? The people with the assets. Who owns the assets? The top 1% has over 35% of the assets and the top 10% have all the other assets. What do the bottom 90% have? A Rounding Error! Practically None!.... So you rise asset prices and that's your contribution to society???... What you are doing is pushing down on labor. Pushing down on the bottom half. With NO offset in increasing their assets because since have none! And you're making the top 1% ineffable rich. If we don't do something about wealth inequality we will be in real trouble. We are THE LEAST EQUAL SOCIETY measurably in the developed world. We have the LEAST Economic mobility. It is a poisonous influence. We have moved the taxes down into certain sectors even where the working class are more measurably effected.
@@mann8098 for "over-engineered" part, he meant that human body as a system is over-engineered and was able overcome "unhealthy" factors produced by humans (pesticides, food, chemicals) by being over-engineered. In other words, we reproduce fairly successfully.
If we have the least economic mobility why do more people immigrate to the United States than any other country? To not make more money and a better life for themselves? If you’re going to make that claim I think you better have some figures to support it. I say the US is one of the most economically mobile countries on the planet. Capitalism might help the rich but for the less financially well off it affords you far more opportunities than any other economic system to move up the socioeconomic ladder. I’m not saying it’s perfect. I’m not saying we couldn’t do without more regulation in certain respects. And I do believe in a social safety net for the poor. But suggesting that America is the least economically mobile nation is flat out absurd.
@@tomw485 most people living in the 3rd world dont get to try live in western Europe for 10 years before trying USA and many head to the USA off a few Hollywood movies. he is just telling you his view no need to be upset with it to be honest if you are part of the riches 10% on the planet its doesn't really make a big difference where you live in the world
@@tomw485 Well you're actually wrong and there are numbers to support that claim. You can say what you want but you're wrong. Also, what does immigration have to do with economic mobility, are they in relation, no.
I find Grantham very interesting but when he started talking about inequality it was clear he really knows what he's talking about, and not only that, his heart in the right place.
If his heart were in the right place, he'd take action by helping others instead of just talk and self-preservation. All he is doing is stating the obvious and helping others who are rich like him.
I have a much more critical view. Low interest rates inflate the value of capital, which increases the appearance of inequality, but if you are smart, it lowers the cost of raising productivity -raising the capacity for higher wages. He also fails to mention globalization. US inequality is due to globalization, not interest rates! Globally, standards of living have been raised for billions of people, and in doing so, bypassed millions of Americans that have fallen from the middle class. The way he talked about venture capital -as if it is "right" and "good" while public markets and private equity are wrong and destructive is disgusting if not flat out evil. Venture capital accounts for ALL the oppressive monopolies created in the past four decades and over half of global inequality! Labor unions are every bit as destructive to equality as capital markets or interest rates! "Green" investing is also responsible for terrible inequality by snuffing out high paying jobs without providing viable environmentally friendly alternatives that everyone can afford. By "knows what he's talking about" do you mean that he scapegoats the most popular people and things to scapegoat? By "his heart in the right place" do you mean casting blame in general on power and wealth while ignoring that that is exactly who pays to put him in the top 1%? There are millions of people worse than J Grantham -but that does not even mean he is good. I reserve my accolades for people with solutions, not just popular blame.
@@skyak4493 Money pumped into the financial system does not always translate to higher standards of living for all. In fact, evidence shows that it's quite likely the opposite. What you are sharing seems to be some sort of monetarist "trickle-down" theory. Trickle-down didn't work, either.
@@kevinswift8654 My point is that no solution to inequality was presented in this video, so when you say he knows what he is talking about it only means you like his blame casting. I am not advocating any 'monetarist "trickle-down" theory', I am saying monetary policy will not fix inequality. The ratios might look better, but that will only be because P/E multiples will come down and you and JG are ignoring the gains in foreign countries. Get ready for disappointment, monetary tightening will not improve inequality either. Inflation will outpace wages until the nation produces its own goods.
Nobody checking in. As someone that clawed his way from poverty to the middle class. I agree with this man. Monetary and fiscal policy is sqeezing the middle class pushing the upper middle class and the wealthy up while crushing the poor. The wealth gap is in fact a product of the policies of the federal reserve. I'm a capitalist 100% but the fed isn't. There are no bail outs in capatalism. There are no artificially low interest rates in capatalism. I think the Austrians have it right, it's a combination of morale hazard and Mal-investment encouraged by the fed causing false booms and terrible busts. Most of us don't get invited to the party but we suffer the terrible hangover and get stuck with the exceedingly high repair costs for the hotel room the fed, politicians and wallstreet trashed during the party.
Couldn't agree more. Doesn't it suck to pull yourself out of poverty only to hit a MASSIVE glass ceiling. You get stuck in the grinder of the middle class, unable to aquire assets, all the while your time and labor are devalued via inflation.
Capitalism routinely uses the state to empower capital owners.... Capitalism only exists because of the state. It's a fallacy to think capitalism equals free markets.
I wonder what's the best opportunities to invest now are, there are opinions but a little later I find out these opinions don't matter as a totally different turn of events play out with the stocks they discussed therein...
stocks are overrated now. buy gold , 5% in crypto . rest in cash. and wait for the stock/property/land price to crash . but them after it stops dropping for 7 - 12 months at the bottom
Hi, please could you share more insight for someone who has been in the red for too long? Also I could use some referral, how do I reach the expert that assists you?
Electric vehicles, preferably those made by companies without unions. You can't lose. Forget all this silly talk about crypto or interest rates or funds or the "markets" (no such thing) or other such nonsense. Invest in companies that are making actual products that people can use. Electric motorcycles, cars, trucks, buses, airplanes, trains. But stay away from companies with unions or diversity programs or other such leftie foolishness. They're going nowhere because they're not focused on maximizing profits. Invest to improve your own financial position, not to save the earth or contribute to humanity or to help the so-called working class. There's no money in that. You might feel good, but you won't make money. I put everything I have into Tesla a couple of years ago. Sure am glad I did too, best investment of my life. My portfolio went from 20K to 200K in just four years, and it looks like it's just warming up.
I like his logic…no sensationalism, no histrionics, just calm analysis and knowledge of history. Very glad I sold 96% of my stocks a few weeks ago, I have NO doubt a crash is unavoidable so I’ll wait patiently until the dust settles and then start buying again!
Great commentary and Jeremy is as always a pleasure to listen to. Thanks for sharing this and great interviewing , its all in the quality of the questions..
It's not rocket science folks. This guy's exactly right. Salaries in the US are up 5-8% over 18 months while homes are up 75-100% in that same 18 months. Someone making $50k per year looking for a $150,000 3 bed 2 bath home in 2019 is now making $53k per year and looking at those same homes - listed AND selling for $275,000. After the 2008 crash, that same home was selling for $65k-$80k between 2009 and 2011. If you can't tell that that's unsustainable, there's nothing that can help you. As a point of reference, a home that PEAKED in 2006-2007 would be 40% cheaper than today's prices in some areas. It's an "everything" bubble by definition.
I am from the UK and have a question for you. In 2006-08 it was super easy to get a mortgage, how is the situation now. In the UK its difficult to get a loan compared to 2006-08. I am really interested to know whether its lack of supply or easy money that is driving up US house prices?
@@kartikbhatt4173 i think it comes from the fed stimulus that’s when I noticed homes really going up a notch …. Loan process isn’t hard and with most people getting some type of cares act stimulus everyone had down payment money due to not having to pay bills during the Covid crisis
2.5 ratio for a heathy income to home price ratio. Some areas in the West in Particular are above 10. Here in Salt Lake it’s 8.4. No way is it sustainable.
Hands down one of the best interviews I have ever seen. So many insights, expressed in such an organized and easy-to-understand manner. Absolutely impressive. I could sit and listen to this man for days.
This is the kind of honesty and frankness, and experience that is a refreshing perspective on what is going on and helps make sense of what is happening right now and in the upcoming months. It's all based on logic and history, and not hype.
Best Grantham interview ever! His view is holistic covering the economy, stock prices, commodities, real estate, economic inequality, fertility and most concerning, the environment and mankind’s impact on the earth. Superb interview.
Hard to know who to follow, but for me, will usually listen more carefully to those with more grey hairs than those analysts who include “ like ,totally!” Maybe im wrong.
¡¡Asombroso!! Acabo de comenzar a comerciar con la Sra. Alice Tyler también, ella es la mejor. con mi inversión inicial de $ 4200 como comerciante diario, gané $ 11,000 en solo una semana de comercio con ella.
Alice Tyler es una corredora legítima y su garantía comercial es 100% segura, con ella experimentará el comercio de Bitcoin desde un ángulo diferente. Se trata de ganar cuando inviertes con ella.
He escuchado y visto muchas críticas sobre inversiones en Bitcoin con esta Sra. Alice Tyler, ¿Debe ser una profesional para que la gente hable todo este har nodahout?
@@luistaveras2343 Sí, lo es, la sra. Alice Tyler se ha ganado una buena reputación que realmente está hablando por ella en este momento. Mi vida también ha cambiado ahora soy acreedora no más deudora, ¡ella me ayudó a recuperar todas las pérdidas! Ahora estoy viviendo una vida🥰 cómoda y feliz
The best way to describe the present economy is 08' 2.0. Yes stocks are at a discount and things will eventually get better but my monthly living expense is up $3750 from $1600 and I'm left wondering what retirement have in store for me 5years down the line, I'm ill-prepared tbh, my 401k gains are zero-nothing and my stock portfolio?...OH WELL!
The uncertainties accompanying this present market is more reasons I have my daily investment decisions guided by a portfolio-coach seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to outperform. Netted over $800k in return on investment, since using a coach for about 2years.
@@cloudyblaze7916 I know investment-advisers can be very constructive which aids investing, but are they really that good as ya'll make them out to be..
I completely rethink economics when listening to Grantham. I always appreciate that economists look at problems in their totality, but Grantham is just over the top. “Investing in green energy is an existential necessity”
i agree about green energy, but I believe that it needs to happen at a more gradual pace. But then again if it is not pushed as necessity before it is really necessary then most will not work to that end until it is too late. So I am still on the fence with my opinion on this subject. But I am 67 years old and will be pushing up daisies before this shi* really hits the fan effecting future generations.
@@darthnatas953 True. The continued use of old energy won't lead to our non-existence. But it will lead to the collapse of the global economy by 2060 according to economic models. You could argue that we might be better off without the global economy and modern civilization. But this might be a hard sell for most folks.
@@cloudpoint0 - according to *what* economic models? We are currently incapable of modeling something like this with any degree of accuracy. There are far too many variables and unknowns.
@@gatsbylight4766 😂😂 good one! I wonder if everyone here singing the old fart's praises is selling ALL their stocks effectively popping the bubble and making him a ton of money because as he admitted he has been unsuccessfully shorting the market .
I think Grantham is prescient and right on target.It's over three months since this interview and look at your portfolio holdings! I bet down 9 percent and going lower too! This video was an early warning for me, and I shall bite the bullet and sell as many U.S. stocks as feasible ASAP. I started investing in his suggestions and he's proving to be spot on! Plus, he has integrity and is committed to helping adapt to climate change with innovative research and venture capital. Marvelous gentleman!
I can listen to Mr Grantham all day. I have multiple degrees in law, medicine, science and business and he is a tremendous teacher who should have lectures taught every day to all of us. What a great practical professor who should be leading America through this transition from oil to clean energy. W. Manion, MD, PhD, JD, MBA.
Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy. The fin-Market;s have underperformed the U.S. economy as fear of inflation hammers the prices of stock;s and bonds. My portfoliio of $250k is down to $192k any recommendation;s to scale up my return;s during this crash will be highly appreciated.
>You have to get a financial-advisor to aid you diversify your portfolios to include commodities, inflation-indexed bonds and stocks of companies with solid cash flows, as opposed to growth stocks where valuations were based on future potential earnings.
Trying times are ahead, and good personal financial management will be very important to weather the storm. It would be very a innovative suggestion to look out for Financial Advisors like "CORINNE CECILIA HEANEY, who can help shape up your portfolio.
Outstanding interview. This is far more honest than what you get from typical mainstream analysts who constantly try to pump up the bubble and smear anyone who disagrees
One of the best Macro economy interviews and perspectives out there at the moment.
Jeremy Grantham will as usual be vilified as to his opinion of the ''Super Bubble'' we are now living in.
His views were very sobering and useful as to knowing where we are heading. A memorable Interview that will become a reference as we head forward. Thank you Mr Schatzker for steering this interview you did a great job.
I agree. I felt the interview could have or should have been less canned. I was hoping that he would ask him questions like if we have the massive meltdown of meltdowns, the banking system could collapse since it is carrying up to 5x more debt than in 2008. How will the bail ins (on the books) affect savers and will brokerages survive and will traders even have access to markets through their accounts? Will they be prevented from trading? What do you think the value of the dollar would be after such a massive collapse? According to the Fed Res the dollar has already lost 99% of its 1913 value and the world has accumulated a staggering level of debt. Will a new system be ushered in after this upcoming financial catastrophe? No one is really talking about this and assumes that it will be business as usual when what is coming will be epic worse than 1929 and the great depression.
@@c.san.8751 That was a great comment C.San. Thank You.
Perfectly said. well, i am also looking for more genuine and smart ways to invest this year, any idea?
@@rajeshupadhyay5683 I'll suggest you reach out to Christine Lynn Saitta, she's a real investment prodigy
@@davidhudson3001 lol
This is a jewel of an interview from a great mentor Jeremy Grantham. Thank you.
Wow! This was a fascinating interview! There’s so much to unpack from this interview but I’ll say this! Simply put, Jeremy’s common sense approach combined with his historical perspective makes his talking points the best in the game of economics and global wealth. Eric does a fantastic job hosting the programs for Bloomberg and his ability as a journalist is second to none! Bravo 👏
Watching this again after 3 months. What an admirable person Jeremy is.
Yes he is, only if we know what we know 3 months later
Same
dude he said this for years lmao?
Me too, I wished I had heard him before.
You sure it's not Elon Musk, or Cathie Wood, or Michael Saylor?
Listening to Geremy’s interview for the first time. His grasp of the system is amazing. He is a visionary. Learnt a lot from this interview.
Doesn't matter what your bias is, Mr. Grantham still has a wealth of wisdom that we can learn from. Thanks, for this interview.
He’s lovely.
@@lane5911 He clearly has an agenda.
Why? For having his investors out of the market for last 10 years? Oh right, got it.
@@rjhammond00 His investors were out of the market for 10 years?
You are right. well I really need mow ways to invest this year, any idea here?
One of the best interviews. Short and to the point.
十① ⑤ ② ⓪ ② ⑥ ① ⑥ ⑥ ⑧ ⑤
On what sppp
Great interview, and thanks to Mr. Grantham and his honesty.
The power of RUclips giving us all educational videos that is priceless. So many great years of life experiences and wisdom to share with us all. Tremendous investing knowledge and experience in 37 mins for free. Super good interview.
Thanks Erik and Bloomberg for making this happen. its like a TED talk of finance, given the knowledge / experience of the interviewee, and ti reinforce some of the directions we might have lost.
yes
this is a fabricated comment. Probably Jeremy Grantham spent money on these bots. Just read all the comments all of them are just generic and not specific
TED talks are for those that lack critical thinking, are too lazy to undertake considered exploration and need to be spoon fed what to think.
This interview makes TED talk look like elementary school. Also these are not fabricated comments.
@@Rikimkigsck I may be underestimating him, but I don't think 'spending money on bots' is his thing.
This is an extremely telling interview of things to come. Mr Jeremy Grantham, you have my highest respect for telling the truth. Thank you!
Lmao Indian bots
He is amazingly intelllectual and also ethical!! These are qualities we desperately need for national or world leader!!
Yes sir
Unfortunately people as awesome as Jeremy know better than to go anywhere near politics. Imagine how frustrating it would be for a clever guy like him to deal with the chumps currently in ‘control’.
When speaking of fertility rates he says we were "over-engineered" what does he mean by that? Also if we are in a super bubble and recommends everyone selling (effectively popping the bubble) why hasn't HE done that?! I know he gave a bs answer "it's not commercially viable". I say being invested and losing all your clients money is not commercially viable. So how much does he really believe in this bubble theory? He has been shorting the market so it behooves him to talk of a super bubble & even be the prick that pops it. Maybe all this talk of climate is virtue signaling so people believe his bubble narrative. Maybe he is a prick maybe not. But I say don't look at what people say, look at what they do to be closer to the truth. Doom sayers are always selling something. There's ALWAYS something in it for them. It's not nobility. It's self interest.
@@mann8098 What he meant was that even though our sperm count has decidedly decreased because humans were naturally engineered to have such an abundance of them we are still able to reproduce.
@@williamfowlkes9767 thank you!
Jeremy is so intelligent that he can answer question in such a way that it is easy to understand everything he says unlike other people
Brilliant man. I have listened to this interview three times. Amazingly intelligent.
Because he actually knows what he's talking about.
That's not just intelligence, it's also wisdom.
When a person truly know about a subject. They can easily explain to everyone including kids.
Why bring "other people" into the conversation? "....everything he says" period! Get out of your Debbie downer mode.
Well, I suspect this interview may become legendary in the next few years.
It's already legendary
@@Stoneface_ damn right lol nasdaq down 28%
@@Stoneface_ Broken clocks are right twice a day!
"next few"yrs ,so youre gonna wait?
I confirme That !!!!!!!!!!!!!!!!!1
Great interview and interviewer. Not pushing for soundbites but just letting the guest speak his mind.
What's a soundbite
this is a fabricated comment. Probably Jeremy Grantham spent money on these bots. Just read all the comments all of them are just generic and not specific
The interview sounds extremely planned and not at all a professional organic interview. It sounds like a fucking infomercial.
Eric has matured as an interviewer and has mastered the art.
Yeah he is really good. I would call this guy idiot couldn't hold myself. All indices went up like crazy and dude says I was right look at Dow it stayed the same.
Eric is not credible. Pretends the Federal Dollar Notes purchasing power is constant. Inflation comprehension is beyond Eric:s ability. His "making money" is useless.
Such great interview. Admire Mr Grantham's wisdom and knowledge. So much wisdom in this interview. Will watch it again.
I love listening to Jeremy Grantham and I like watching Eric interview people. When the two are in the same room, you know that it will be nothing short of excellent.
A surprisingly candid interview from a mainstream channel. Thank you Bloomberg for respecting your audience's intelligence.
Jeremy Grantham, not only a legendary investor but a gentleman with a social and environmental conscience. This video is a must watch for all interested in money, social equality and protecting our most significant treasure, the environment.
Jeremy has enormous charisma and humility. Fantastic conversation
"were you wrong"
"No I dont think i was"
Proceeds to give pretty bad excuse although he is wrong>
Yeah great humility there
@@rylandorr predicting 50 years event with a 3 year deviation is pretty remarkable
@@renand3z He is always wrong. When you make thousands of predictions obviously a few of them would be right it's statistics.
Charisma and Humilty?????? maybe wisdom and acumen and knowedgeable.......not so much charisma and humility.
@@renand3z Grantham was talking about 2 and 3 sigma deviations
"In the empirical sciences, the so-called three-sigma rule of thumb expresses a conventional heuristic that nearly all values are taken to lie within three standard deviations of the mean, and thus it is empirically useful to treat 99.7% probability as near certainty."
Thank you Jeremy Grantham for your advice and empathy for the working class. I am a carpenter and my wife works support staff jobs at a hospital our retirement accounts look abysmal and are seriously underfunded we will never be able to retire comfortably in a economic world spinning out of control.
I’ve listened to this interview three times and I’m not done. Phenomenal Q & A. Scathing indictment on the ignorance of Greenspan, Bernanke, Yellen, and Powell policies.
I would hate to be in Yellen's shoes. Get handed this money printer that's had its "off" switch straight up broken off for years, knowing with certainty that inflation will be the result, then seeing companies realize they can price gouge and maintain absurd unsustainable growth rates even during a pandemic and just blame inflation and they will get cover by politicians trying to use it in a disingenuous bid for power. They're not even saying they could stop inflation, just ranting about it being bad and blaming it on politicians from a different party, pretending that they've suddenly forgotten the Federal Reserve even exists or that inflation is a lagging indicator and the President has no control over it, etc. Load up on buybacks, and raise your prices and call it inflation! Even if your company is posting record profits, no one will doubt it was all because of inflation!
Ignorant? "90% of communising a country is the establishment of a central bank," Lenin. Thats their goal.
Fabulous interview with one of my very favourite investment commentators - well worthy of a careful listen and reflection.
Should have been longer .. Erik Is the best ever interviewer and jg is the best authority on the bubble situation we’ve created over 20 years
did you check out his interview exactly a year ago? From memory it was around 80 minutes.
this is a fabricated comment. Probably Jeremy Grantham spent money on these bots. Just read all the comments all of them are just generic and not specific
I've said for years that basing inflation numbers on durable goods was idiotic. My kids can't eat a toaster, go see how much milk has gone up. Luckily corporate America bases their increases on the CPI number, so the CEOs are doing okay.. Comes down to the question, where else should I put money besides the financial market
You are right! I diversified my $450K
portfolio across various market with the
aid of an investment coach, I have been able to generate a little bit above $1.2m in net profit across high dividend yield stocks, ETF and bonds during this red season.
@@zoeytank2921
who is your guide? I lost over $13K just last week, so I’m in dire need of a financial~~planner##
Credit to JOHANNA MUSSCHE my InvestmntAdviser
this is really helpful. just found her web+site and wrote scheduling a call
BEST interview I’ve seen in years. He is my hero
Finally someone explained the link between low interest rate and growing income inequality
It hasn't been a big secret really.
Totally deliberate. Mechanism for control of the proletariat.
of course the savers, retired and poor are the one's that were not served by this bloated super bubble! Govt made is almost impossible to save money in the bank and make a respectable rate of interest. Now everyone has to gamble to get any return.
@@Antandthegrasshopper I remember back in the 90s I used to get paid around $500 a month in interest now I'm lucky if I get 5 cents 😂
With all this scary news making the headlines, is this really a good time to buy stocks? I know everyone says the mrkt is ripe enough for buying but will stocks tank further this year? How long until a full stock recovery? How are other people in this mrkt raking in over $250k gains within months, I'm really just confused at this point.
It all depends on how long you're willing to hold for, stocks might likely tank further, but making serious gains in this downtrend wouldn't be a problem if you're a pro
@@claraclouse9086 I got into a bit of dilemma myself due to this chaotic mrkt, wasn't sure if to sell or just wait a little longer, 75% of my portfolo was tanking and in the red, but I began gaiinng clarity and have more confidence in my invt. through an lnvt-advlser, I know most DlY-lnvestor like me would say advlsors aren't essential, but come to think of it, they're better trained and equipped at this and if I have to give just a little amountin fees for me to be able to net $650K in less than 8months like I did this year, I truely don't mind.
@simon fes Ingrid Cecilia Raad is the coach that guides, you probably might've come across her before, she's quite known in her field, search her
Erik Schatzker is an outstanding interviewer!
Thank you Bloomberg for this insightful discussion with one of the greatest minds in the industry who was, as always, eloquent and succinct.
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless" -Thomas Jefferson
Oh make no mistake about it, the world is driven by consumers thru votes and politicians only answer to (or they pretend to answer to ) consumers. Even if the U.S sec behaves like hitler, the world is better than and bigger than one entity. Cryptos and blockchain will prevail. Every new innovation has its challenges and especially when the status quo being disrupted cannot compete or offer the same solution as the innovation offers. It is unstoppable. Are they going to arrest everyone? You better get bullish on cryptos and pay your taxes, so they dont scape goat you.
Hear hear!! The Fed knows exactly what will happen and when, it's all planned out to enrich the elite and impoverish "the dumb money" Love that quote, thx for posting it! @John Daniels
Amen brother =)
That is the reason investing Bank is a good idea. Rumor is that Fed is own by large bank. During 2007 crash, you can identify owner of Fed. Goldman and JP morgan elevated to commercial bank. JP Morgan took Washington Mutal for nothing. BoA took over ML and Counrty wide. Wells fargo got Wachovia bank. Those banks are founding member of Fed.
@@lifeisshort99 there was no crash in 2017
There are very few experts who use special strategies to make steady earnings for investors and Mr Corey is not missing out. Nothing beats the feeling of comfort knowing that your money is working to raise itself daily. Mr Corey is the best no doubt;
18:25 Erik is too cool. Asking about the 60/40 mix was a great question, and Jeremy gave as direct an answer as anyone could, right or wrong.
60/40 been burried every year. its common cliche everyone used half century
Amen.
@@user-zf5fg2jl3v12
It is good if you have a fixed retirement date that is within 15 years. If your timeframe is 20+ then you normally want an 80/20. And if your timeframe is 30+ it is usually not unreasonable to push it to 90/10 or even 100/0.
Mr Grantham is as real and pure as gold. I have been listening to brilliant investor interviews for over 25 years and I respectfully grant Mr Grantham in the ""TOP-SPOT!"
Amazing man! True words! Unfortunately politicians don’t hear his frequency
Lmao he's a moron, you bot
i dont think anyone else could ever explain this much stuff in such a short time and in a very understandable way. Thank you for the great interview, excellent job directing the interview.
This was a brilliant interview with Jeremy Grantham. One of the best thought out explanations of the coming market changes I have seen. I have the greatest respect for Mr. Grantham not only as a financial analyst but as a caring and concerned human being. I was enthralled. Bravo Bloomberg for making this available.
Fantastic interview. It's really interesting how quickly a discussion on macroeconomics can change into a philosophical one.
That's a great observation... philosophy rules
Yes, but they hate when we do that. They want us compartmentalized and dog-trained to spew Keynesian pablum upon demand. False idealisms must die, but I think we're out of time.
@Teratology The Austrian school tells us that "you cannot create an equilibrium model from human action". Modern economics is a brain-washed cult. It parades as a science, but is really only a festooned control grid. Our entire economic system can be explained in one word....heist.
That's how they hypnotize you.
Possibly, probably, almost certainly the best interview on macro finance - consumer finance - understanding ourselves, that I have ever be fortunate enough to hear. Common sense visionary linking so many points on the diagram. Wow.
This interview kind of shocked the hell out of me.
Excellent interview by the way. Gave it the exceptional Label: "review until you understand" (as well as possible) what was discussed.
Still a learning machine after all these years! I very much admire Jeremy Grantham
Admire you Brad!
Such an inspiring interview and Jeremy Grantham is such a gentleman and visionary. I think the fundamental issue with the world’s problems is mis-calculation of production and consumption costs. When we price a product, we don’t consider the environmental impact of making it and disposal afterwards. So products are produced too cheap and we over-consume. Remember in economics 101, I learned there are private property and public property. Businesses take into account only costs under their private property but not under public property. Governments are not allocating these public costs in a proper way. Going on so many years now, everything is out of balance.
Mr Grantham is the consummate world-class investment professional. Such a refreshing change from the conveyor belt of blowhards on CNBC.
I agree. Love that phrase "conveyor belt of blowhards on CNBC"
@@randalmontgomery4595 Baba Booey Baba Booey Baba Booey
This is such a great interview. Really enjoyed listening to Mr. Grantham's view not only on the U.S. economy, but also on the economic system of the whole planet earth, as he points out the bigger problems that arise from building the human capitalism system. It is not just about whether the crash will happen and when which most people may just care about.
this is a fabricated comment. Probably Jeremy Grantham spent money on these bots. Just read all the comments all of them are just generic and not specific
you are right. I also want more smart and geniune ways to invest this year, any idea?🤦♀
Wtf is the “human capitalism system”. Capitalism is freedom applied to the marketplace. It means you are free to create, buy, sell, enter into transactions with others.
It’s a fantastic system that’s made the world more wealthy. Since it’s founded in freedom it’s no surprise that every alternative is founded on authoritarianism.
One of the most informative interviews ever!
Lol
This is the single best discussion I’ve heard on the topic in a while!
How do not to love and respect this guy for his no nonsense comments?
Always a pleasure to listen to him.
Thx for this interview to Front Row
Erik was really cool of you to give Jeremy a parting word. I have enjoyed his honesty over the years as well. Tell him his intentions to educate were honorable.
Fantastic interview. I know Jeremy has been on the bear train for some time but I think he is right, now more than ever. Look out below…
Jeremy Grantham is a very intelligent man, no nonsense.
@warrenrose68 Bubbles can go on for a very long time. Look at what happened in Japan. It got to something like 67 times earnings! The aftermath was devastating for them and the repercussions have lasted for decades. Japan might be an interesting place to invest now though their demographics are terrible which may be explained by the poor economic outlook for so long.
@warrenrose68 My point was not that you would have been better off taking his position back then only that it is incredibly difficult to predict the demise of a bubble. Investors were correct in that as long as the Fed was ultra accommodative it was hard to lose and you could almost invest blindly. Who would have known though in 2011 that the Fed would resort to such extreme measures that I am sure will go down in history. The Fed over the last 20 years have never let the markets clear. We just kept upping the ante. But that game is over. The Fed's hands are tied now. They face very difficult choices. None of which are very palatable. We live in very interesting times in so many ways.
I was listening to him 2011, missing 10 years USA stock market gain with 20% average per year!
There might be an economical turmoil but there is no doubt that this is still the best time to invest.
Best time to invest? thats funny though because in the last four months I have lost more than $47,900 in stock market which is the biggest I have loss since I ventured into stock investment.
you could be right or wrong depends on your expertise, I once made such loss when i invested thinking i have gathered enough trading skills from youtube videos
now its a different ball game for me because I was lucky to have met TERESA JENSEN WHITE, a financial manager and stock expert, I have made more than $165,000 in 6 weeks under her supervisions.
Really? people are cashing in from the stock market and frankly speaking its comforting seeing someone admit to the fact that they actually seek help from professionals. please how can i reach TERESA ?
search her name on the internet to reach her
Jeremy Grantham should give lectures to people everyday in details to make the world a better place.
He lectured us in that 37 minutes. 'Prepare to own nothing & like it. At least you little folk will be equal.'
He was fantastic and very generous. However, we humans, as as species, have a problem with co-operating and listening when we need to. If only it were as simple! as you say!
hes lost on crypto
@@spenser6353 he's being polite to not upset any crpyto believers but also careful not to make wrong calls. But, he probably understands more about the cryptomarket more than the average s***coin shills and pumpers.
Jeremy Grantham is someone who sees through the smoke and mirrors of what our world has become.
Can you be more specific? He sounds bullish on foreign stocks by suggesting shorting US stocks (for non profitable or over valued corporations) in exchange. While he is successful creating fear he is selfish enough to not spend sufficient time explaining risk mitigation measures. It’s like he is attempting to position himself to sell you a solution instead of common good.
@@JCCeba this is a fabricated comment. Probably Jeremy Grantham spent money on these bots. Just read all the comments all of them are just generic and not specific
and another wise guy who clearly sees through that global deceit must be you, right?
In a crazy world the not crazy ones seem crazy
@@giovannip8600 Jack: There is no such thing as electromagnetic radiation
Me: You are one ignorat dude
Giovanni P: In a crazy world the not crazy ones seem crazy
Me: Smh
4 months later and the bubble is starting to pop. This guy is on point.
You can't beat experience!
Lmao all the bots in this comments section. Grantham is a moron that has been calling a crash for years
@@daintree98 and honesty
6 months later righter than ever
@@brianramrup5527 huh? The SP500 is 1.6% below where it was when this was posted.
Such good insight from an unexpected source. A financial icon who gets that the world is finite and there are ramifications for life everywhere. Good to see someone has vision.
Agree with Jeremy. Zero-percent interest rates are bad for the poor and bad for the planet.
Jeremy doesn't understand inflation. His excuses for the Federal Reserve devalued Purchasing value >6.6% in 2021, already >8.5% baked in the cake for 2022. The 0.25% wealthy, not rich, Wealthy profit as he says, will accelerate inflation under Powell.
@@EatMyOats now everyone is an armchair.economist. I trust Jeremy more than you
So basically 1970’s we went off the gold standard, which allowed gov/fed res to artificially lend out money, which artificially pumped asset prices at the expense of debasing everyone’s cash -
Rich got richer and poor lagged as a result, naturally as a consequence
But worse of all, this incentives politicians to promise they can tax and redistribute our way out of an asset bubble - which will perversely cripple real growth and make recovery even more unbearably long and more excruciating without fixing anything fundamental
If borrowing money is cheap it really just means your money has no value. Basically money should be worth 4 to 6% if you want to borrow some. The rich understand this and are dumping money to get assets. Very hard for the new investor to get in the game. How do we keep capitalism (the best possible answer) yet Un rig the game giving more people access and minimizing the wealth gap
@@badnomad357 Money printing causes inflation for the poor and cheap borrowing for the rich. Sound money is the answer.
Holy shit how accurate was Jeremy! 3 months later, many of the SPACs and growth stocks are down 80-95%. Brutal drawdowns! Hats off to Jeremy. What a legend👊🏽
thats bullcrap the markets have not really suffered , all that happens is smarter investors are taking from dumb investors like you
he is telling market collapse every 3 months since 1960
Totally struck by the remarkable breadth of Jeremy's knowledge on such a broad range of topics. Whether we agree with him or not, his arguments are very compelling.
Very true
He's an old, out of touch fool.
@@ejkalegal3145 who happens to be right
@@digitalsamurai42 No he is not. Clueless about crypto.
@@ejkalegal3145 He is not clueless, merely modest.
That man is very interesting. Good interview. Good interviewer. I think he is totally right. Most of it comes back to living beyond our means. We are crazy
Have to give Grantham kudos for his call here. He was on target for his call to buy commodities in January. I'm just hearing this interview now in the middle of April. Great interview.
HOLY CRAP. Me & Jeremy Grantham are 100% on the same page. This man cuts right through the BS. Thank god. AMAZING.
*24:45 is where the real meat is!!
If you drive up asset price systematically, who do you make money for? The people with the assets. Who owns the assets? The top 1% has over 35% of the assets and the top 10% have all the other assets. What do the bottom 90% have? A Rounding Error! Practically None!.... So you rise asset prices and that's your contribution to society???... What you are doing is pushing down on labor. Pushing down on the bottom half. With NO offset in increasing their assets because since have none! And you're making the top 1% ineffable rich. If we don't do something about wealth inequality we will be in real trouble. We are THE LEAST EQUAL SOCIETY measurably in the developed world. We have the LEAST Economic mobility. It is a poisonous influence. We have moved the taxes down into certain sectors even where the working class are more measurably effected.
Glad someone had the patience to transcribe that segment!
If only I could copy and paste from the comments.
@@mann8098 for "over-engineered" part, he meant that human body as a system is over-engineered and was able overcome "unhealthy" factors produced by humans (pesticides, food, chemicals) by being over-engineered. In other words, we reproduce fairly successfully.
If we have the least economic mobility why do more people immigrate to the United States than any other country? To not make more money and a better life for themselves?
If you’re going to make that claim I think you better have some figures to support it. I say the US is one of the most economically mobile countries on the planet. Capitalism might help the rich but for the less financially well off it affords you far more opportunities than any other economic system to move up the socioeconomic ladder. I’m not saying it’s perfect. I’m not saying we couldn’t do without more regulation in certain respects. And I do believe in a social safety net for the poor. But suggesting that America is the least economically mobile nation is flat out absurd.
@@tomw485 most people living in the 3rd world dont get to try live in western Europe for 10 years before trying USA and many head to the USA off a few Hollywood movies.
he is just telling you his view no need to be upset with it to be honest if you are part of the riches 10% on the planet its doesn't really make a big difference where you live in the world
@@tomw485 Well you're actually wrong and there are numbers to support that claim. You can say what you want but you're wrong. Also, what does immigration have to do with economic mobility, are they in relation, no.
Great interview. Measured and articulate while providing value. Thank you!
Fantastic Interview! Thanks for taking the time Jeremy Grantham.
I find Grantham very interesting but when he started talking about inequality it was clear he really knows what he's talking about, and not only that, his heart in the right place.
If his heart were in the right place, he'd take action by helping others instead of just talk and self-preservation. All he is doing is stating the obvious and helping others who are rich like him.
@@johnz.2907 What would you suggest that he do? And I don't know if it's obvious - most people don't agree with him.
I have a much more critical view. Low interest rates inflate the value of capital, which increases the appearance of inequality, but if you are smart, it lowers the cost of raising productivity -raising the capacity for higher wages. He also fails to mention globalization. US inequality is due to globalization, not interest rates! Globally, standards of living have been raised for billions of people, and in doing so, bypassed millions of Americans that have fallen from the middle class.
The way he talked about venture capital -as if it is "right" and "good" while public markets and private equity are wrong and destructive is disgusting if not flat out evil. Venture capital accounts for ALL the oppressive monopolies created in the past four decades and over half of global inequality! Labor unions are every bit as destructive to equality as capital markets or interest rates! "Green" investing is also responsible for terrible inequality by snuffing out high paying jobs without providing viable environmentally friendly alternatives that everyone can afford.
By "knows what he's talking about" do you mean that he scapegoats the most popular people and things to scapegoat? By "his heart in the right place" do you mean casting blame in general on power and wealth while ignoring that that is exactly who pays to put him in the top 1%?
There are millions of people worse than J Grantham -but that does not even mean he is good. I reserve my accolades for people with solutions, not just popular blame.
@@skyak4493 Money pumped into the financial system does not always translate to higher standards of living for all. In fact, evidence shows that it's quite likely the opposite. What you are sharing seems to be some sort of monetarist "trickle-down" theory. Trickle-down didn't work, either.
@@kevinswift8654 My point is that no solution to inequality was presented in this video, so when you say he knows what he is talking about it only means you like his blame casting. I am not advocating any 'monetarist "trickle-down" theory', I am saying monetary policy will not fix inequality. The ratios might look better, but that will only be because P/E multiples will come down and you and JG are ignoring the gains in foreign countries. Get ready for disappointment, monetary tightening will not improve inequality either. Inflation will outpace wages until the nation produces its own goods.
Nobody checking in. As someone that clawed his way from poverty to the middle class. I agree with this man. Monetary and fiscal policy is sqeezing the middle class pushing the upper middle class and the wealthy up while crushing the poor. The wealth gap is in fact a product of the policies of the federal reserve.
I'm a capitalist 100% but the fed isn't. There are no bail outs in capatalism. There are no artificially low interest rates in capatalism. I think the Austrians have it right, it's a combination of morale hazard and Mal-investment encouraged by the fed causing false booms and terrible busts.
Most of us don't get invited to the party but we suffer the terrible hangover and get stuck with the exceedingly high repair costs for the hotel room the fed, politicians and wallstreet trashed during the party.
What we have is socialism for the rich and corporations, capitalism for everyone else.
Excellent description
Couldn't agree more. Doesn't it suck to pull yourself out of poverty only to hit a MASSIVE glass ceiling. You get stuck in the grinder of the middle class, unable to aquire assets, all the while your time and labor are devalued via inflation.
doesnt mattter now jeremys gonna crash the market and make us eat bugs
Capitalism routinely uses the state to empower capital owners.... Capitalism only exists because of the state. It's a fallacy to think capitalism equals free markets.
most uder-rated journalist on Bloomberg and the world of finance. Great interview!
I wonder what's the best opportunities to invest now are, there are opinions but a little later I find out these opinions don't matter as a totally different turn of events play out with the stocks they discussed therein...
stocks are overrated now. buy gold , 5% in crypto . rest in cash. and wait for the stock/property/land
price to crash . but them after it stops dropping for 7 - 12 months at the bottom
Hi, please could you share more insight for someone who has been in the red for too long? Also I could use some referral, how do I reach the expert that assists you?
Amazing I'll do that right away . Thank you
Electric vehicles, preferably those made by companies without unions. You can't lose. Forget all this silly talk about crypto or interest rates or funds or the "markets" (no such thing) or other such nonsense. Invest in companies that are making actual products that people can use. Electric motorcycles, cars, trucks, buses, airplanes, trains. But stay away from companies with unions or diversity programs or other such leftie foolishness. They're going nowhere because they're not focused on maximizing profits. Invest to improve your own financial position, not to save the earth or contribute to humanity or to help the so-called working class. There's no money in that. You might feel good, but you won't make money. I put everything I have into Tesla a couple of years ago. Sure am glad I did too, best investment of my life. My portfolio went from 20K to 200K in just four years, and it looks like it's just warming up.
A coffee can in your backyard is your best bet.
Fabulous interview! Thank you for sharing your knowledge and wisdom, Mr. Grantham.
Thank you for sharing your knowledge and wisdom, Mr. Grantham.
I like his logic…no sensationalism, no histrionics, just calm analysis and knowledge of history. Very glad I sold 96% of my stocks a few weeks ago, I have NO doubt a crash is unavoidable so I’ll wait patiently until the dust settles and then start buying again!
Wow, this was such a great interview. I didn't think I'd find a 40min video about investing so captivating.
十① ⑤ ② ⓪ ② ⑥ ① ⑥ ⑥ ⑧ ⑤
On what sppp
Great commentary and Jeremy is as always a pleasure to listen to. Thanks for sharing this and great interviewing , its all in the quality of the questions..
Phenomenal interview! This was truly world class! Thanks!
It's not rocket science folks. This guy's exactly right. Salaries in the US are up 5-8% over 18 months while homes are up 75-100% in that same 18 months. Someone making $50k per year looking for a $150,000 3 bed 2 bath home in 2019 is now making $53k per year and looking at those same homes - listed AND selling for $275,000. After the 2008 crash, that same home was selling for $65k-$80k between 2009 and 2011. If you can't tell that that's unsustainable, there's nothing that can help you. As a point of reference, a home that PEAKED in 2006-2007 would be 40% cheaper than today's prices in some areas. It's an "everything" bubble by definition.
I am from the UK and have a question for you. In 2006-08 it was super easy to get a mortgage, how is the situation now. In the UK its difficult to get a loan compared to 2006-08. I am really interested to know whether its lack of supply or easy money that is driving up US house prices?
houses and certain high flying tech stocks will correct.
My MO , BMY , etc will be fine.
Yep, sold all my rental properties. This is as good as it's going to get before it all crashes and it's 2008 all over again
@@kartikbhatt4173 i think it comes from the fed stimulus that’s when I noticed homes really going up a notch …. Loan process isn’t hard and with most people getting some type of cares act stimulus everyone had down payment money due to not having to pay bills during the Covid crisis
2.5 ratio for a heathy income to home price ratio. Some areas in the West in Particular are above 10. Here in Salt Lake it’s 8.4. No way is it sustainable.
Hands down one of the best interviews I have ever seen. So many insights, expressed in such an organized and easy-to-understand manner. Absolutely impressive. I could sit and listen to this man for days.
👏👏👏👏👏
You haven't seen much.
Amazing exposure of wisdom! Thanks, Bloomberg!
Fantastic interview and brilliant conversation. Well done both
This is the kind of honesty and frankness, and experience that is a refreshing perspective on what is going on and helps make sense of what is happening right now and in the upcoming months. It's all based on logic and history, and not hype.
Thank you for this valuable public service to educate the general public!
Best Grantham interview ever! His view is holistic covering the economy, stock prices, commodities, real estate, economic inequality, fertility and most concerning, the environment and mankind’s impact on the earth. Superb interview.
Hard to know who to follow, but for me, will usually listen more carefully to those with more grey hairs than those analysts who include “ like ,totally!” Maybe im wrong.
¡¡Asombroso!! Acabo de comenzar a comerciar con la Sra. Alice Tyler también, ella es la mejor. con mi inversión inicial de $ 4200 como comerciante diario, gané $ 11,000 en solo una semana de comercio con ella.
La señora Alice es obviamente la mejor corredora. Invirtí $ 4,500 con ella y ella me hizo ganar $ 48,100 en 2 semanas y 3 días. Fue alucinante.
Alice Tyler es una corredora legítima y su garantía comercial es 100% segura, con ella experimentará el comercio de Bitcoin desde un ángulo diferente. Se trata de ganar cuando inviertes con ella.
He escuchado y visto muchas críticas sobre inversiones en Bitcoin con esta Sra. Alice Tyler, ¿Debe ser una profesional para que la gente hable todo este har nodahout?
@@luistaveras2343 Sí, lo es, la sra. Alice Tyler se ha ganado una buena reputación que realmente está hablando por ella en este momento. Mi vida también ha cambiado ahora soy acreedora no más deudora, ¡ella me ayudó a recuperar todas las pérdidas! Ahora estoy viviendo una vida🥰 cómoda y feliz
Brilliant man. He says what most investment managers will not say!
They dont say it, but their cash is mounting up signaling what they think will happen.
This is a GREAT interview! Love it. I learned a lot from watching it
The best way to describe the present economy is 08' 2.0. Yes stocks are at a discount and things will eventually get better but my monthly living expense is up $3750 from $1600 and I'm left wondering what retirement have in store for me 5years down the line, I'm ill-prepared tbh, my 401k gains are zero-nothing and my stock portfolio?...OH WELL!
Find a mean to gain off the present market condition, we seem to be moving same direction as Venezuela and that wont be good for anybody
The uncertainties accompanying this present market is more reasons I have my daily investment decisions guided by a portfolio-coach seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to outperform. Netted over $800k in return on investment, since using a coach for about 2years.
@@cloudyblaze7916 I know investment-advisers can be very constructive which aids investing, but are they really that good as ya'll make them out to be..
@@ericmendels They are actually... really helped me through a prolonged nasty divorce
@@cloudyblaze7916 Mind if I ask for recommendation on this coach that guides you?
I completely rethink economics when listening to Grantham. I always appreciate that economists look at problems in their totality, but Grantham is just over the top.
“Investing in green energy is an existential necessity”
i agree about green energy, but I believe that it needs to happen at a more gradual pace. But then again if it is not pushed as necessity before it is really necessary then most will not work to that end until it is too late. So I am still on the fence with my opinion on this subject. But I am 67 years old and will be pushing up daisies before this shi* really hits the fan effecting future generations.
“Investing in green energy is an existential necessity” Nonsense.
@@darthnatas953 True. The continued use of old energy won't lead to our non-existence. But it will lead to the collapse of the global economy by 2060 according to economic models. You could argue that we might be better off without the global economy and modern civilization. But this might be a hard sell for most folks.
@@cloudpoint0 Nonsense. A warmer climate would be good for the world on balance. Cite your "economic models".
@@cloudpoint0 - according to *what* economic models? We are currently incapable of modeling something like this with any degree of accuracy. There are far too many variables and unknowns.
Thanks Bloomberg and Jeremy. Jeremy always bring out the bear in me. Bring on the popping of this epic super bubble.
Soooooo, what happened to that _'bear'_ that Jeremy brought out with his last year prediction? Your bear must've went into into *hibernation?* 🧐
@@gatsbylight4766 😂😂 good one! I wonder if everyone here singing the old fart's praises is selling ALL their stocks effectively popping the bubble and making him a ton of money because as he admitted he has been unsuccessfully shorting the market .
I think Grantham is prescient and right on target.It's over three months since this interview and look at your portfolio holdings! I bet down 9 percent and going lower too! This video was an early warning for me, and I shall bite the bullet and sell as many U.S. stocks as feasible ASAP. I started investing in his suggestions and he's proving to be spot on! Plus, he has integrity and is committed to helping adapt to climate change with innovative research and venture capital. Marvelous gentleman!
Thanks for doing this! I hope you can get him every 6 months to share his views. What a wealth of knowledge!
Didn't agree with everything Jeremy said but he is a man of wisdom. His responses got much better as the interview went on. Worth 37 minutes to watch.
And what did you disagree with, exactly?
I can listen to Mr Grantham all day. I have multiple degrees in law, medicine, science and business and he is a tremendous teacher who should have lectures taught every day to all of us. What a great practical professor who should be leading America through this transition from oil to clean energy. W. Manion, MD, PhD, JD, MBA.
Vlad Putin says not so fast. Also, you listing your degrees makes you a giant douche.
Great interview. I agree with much of what he said, particularly about the environment and earth.
Insightful and the interviewer knows how to get the answers out.
This guy is a dying breed. We need more like Jeremy Grantham.
I think this is one of the best interview that I watched for sometime. Jeremy is very consistent with his points and his facts are legit.
Lmao
Jeremy Grantham is the true student of Bubbles over investing history.
We need more Jeremy Granthams!!!
Outstanding interview Eric! Well done here!
Always good to hear Grantham’s perspective on the economy and global issues, should have been 60mins long…
Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy. The fin-Market;s have underperformed the U.S. economy as fear of inflation hammers the prices of stock;s and bonds. My portfoliio of $250k is down to $192k any recommendation;s to scale up my return;s during this crash will be highly appreciated.
>You have to get a financial-advisor to aid you diversify your portfolios to include commodities, inflation-indexed bonds and stocks of companies with solid cash flows, as opposed to growth stocks where valuations were based on future potential earnings.
Trying times are ahead, and good personal financial management will be very important to weather the storm. It would be very a innovative suggestion to look out for Financial Advisors like "CORINNE CECILIA HEANEY, who can help shape up your portfolio.
@@marianparker7502 How do i find the lady you just mentioned?
@@PhilipMurray251 just look her up online to get in touch with her, her details are provided online
Jeremy Grantham is as decent as they get. Finance needs many more people like him.